Bangalore, February 19, 2015 - Kalyani Group and Rafael Advanced Defense Systems Ltd have announced the formation of a Joint Venture Company in India (51:49). The initiative is in line with the 'Make in India' policy of the Government, and will enable the development and production of high end technology systems within the country. This will include a wide range of technologies and systems, like Missile Technology, Remote Weapon Systems and Advanced Armour Solutions.

Speaking on the occasion, Mr Baba Kalyani, Chairman & MD, said, "Kalyani Group has been at the forefront in initialising the 'Make in India' campaign. As part of this campaign we aim to develop and produce high end technology systems and expand the Defence Industry Base in our country. We believe in the vision of 'Make in India' and our proposed Joint Venture with Rafael is a step in this direction."

Brig. Gen (Retd), Itzhak Gat, Chairman, Rafael said, "Rafael has been an active participant in the Indian Defence Market for the past few years. We have always endeavoured to contribute to the modernisation of the Indian Armed Forces. As part of our global strategy, we form alliances to develop military applications based on our proprietary technologies and in Kalyani Group we see a lot of synergy and opportunities for growth in new markets and especially in India, which is strategic market for us. "

Amit Kalyani, Executive Director, said, "Kalyani group is committed to invest in developing advanced frontier technologies. The partnership with Rafael is our endeavour to develop advanced Missiles and Remote weapon system capabilities within India."

Vice Admiral (Retd), Yadida Yaari, CEO, Rafael said, "We see Kalyani Group as an ideal partner for expanding our business opportunities in India. We have supported and will continue to support the Indian Ministry of Defence in gaining technological superiority to technological excellence. Rafael is well aware of the 'Make in India' policy, and the JV with Kalyani Group is a firm commitment in that direction."